President Commissioner Fakir Chand ousted from Garda Tujuh

By Hiski Darmayana

Fakir Chand, has today found out that he was ousted from his position as President Commissioner of IDX-listed PT Garda Tujuh Buana Tbk.

Chand told Petromindo.com that according to other commissioner Pardeep Dhir, his position is considered no longer viable as he's been in the position for more than three years.

"That was the reason why I as president commissioner wasn't given the right to lead today's Extraordinary Shareholders Meeting, yet there was no fixed decision nor prior notification before the meeting," he said, adding that he decided to walk out of the meeting as a sign of disapproval.

According to Fakir, the key reason why it happened has something to do with the shareholders of PT Garda Mineral, the company he leads, within Garda Tujuh's shareholders, in which 26 percent shares previously owned by Garda Mineral were being transferred to Octavianus Wenas and Michele Wenas without his approval.

"We have filed a lawsuit to the administrative court in relation to the unilateral share ownership transfer decision since October 18, with court session to start next week," he said today.

The remaining Garda Tujuh directors and commissioners refused to comment on the matter.

Today's extraordinary shareholders meeting signaled the replacements of directors, commissioners as well as office address.

Editing by Er Audy Zandri